Moscow realtor convicted of $500 mln embezzlement to be released on parole
MOSCOW, May 21 (RAPSI) – Moscow’s Babushkinsky District Court has granted parole for prominent realtor Alexander Konstanitnovsky sentenced to 3 years in prison for embezzling $500 million, the court’s spokesperson Maria Borovikova has told RAPSI.
Konstantinovsky was convicted and sentenced in the fall of 2017.
According to investigators, over 10 years Konstantinovsky acting in collusion with some other unidentified persons and using false documents, registered his ownership of non-residential premises (attics, basements) in the Moscow downtown, often putting pressure on the residents of the buildings.
In 2011, the defendant in his capacity of a realtor could secure ownership of a mansion located in the central part of the Russian capital for a company he controlled. The mansion had been planned to host a museum of collector Igor Vozyakov, who could later settle the ownership dispute in his favor in a commercial court.
The realtor was arrested in April 2016.